Wealth inequality in the United States is high and has increased sharply in recent decades. This increase—alongside a parallel increase in income inequality—has spurred increased attention to the implications of inequality for living standards and increased interest in policy instruments that can combat inequality.
Taxes on wealth are a natural policy instrument to address wealth inequality and could raise substantial revenue while shoring up structural weaknesses in the current income tax system. This issue could and should be a key issue in the upcoming presidential race.
The issue, however, is not clearly understood by most Americans. The following videos illustrate this. Hopefully, more of us will come to appreciate this problem and work to address it in 2020.